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Bloomberg: Estonia to present plans on seizing Russian assets in EU

by The Kyiv Independent news desk January 10, 2023 7:31 AM 1 min read
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Estonia is preparing to present a plan for seizing Russian assets and delivering funds under European Union sanctions to Ukraine.

The government in Tallinn asked ministries in late December to create a legal blueprint for asset seizures and is expected to present the plan at the end of this month, Mihkel Tamm, a spokesman for the foreign ministry, said, Bloomberg reported.

According to Bloomberg, Estonia is looking to present the plan by the time the European Commission develops a union-wide decision on what to do with the $322 billion in Russian central-bank reserves and billions in frozen assets of sanctioned Russians.

The government estimates that eligible funds in Russian-owned accounts in Estonia are around 20 million euros, Bloomberg reported.

Earlier on Dec. 22, the U.S. Senate approved an amendment allowing the transfer of seized assets belonging to Russian oligarchs to the people of Ukraine.

Even after sanctions, Russian economy can pay for war
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